I had the same Problem on a 4 month old 4S 16gb model from verizon. I backed up the device in iTunes and did the network reset in the settings page, then a restore through iTunes. Neither worked. I took the iPhone back to verizon and they tried a wipe and still the wifi was greyed out AND the blue tooth would not turn on. The sales rep. at Verizon was willing to replace the phone but they only could do so using a refurb model and after paying $200, a refurb is unacceptable. I made a appointement at the local Apple store and the tech looked it over to confirm the symptoms. The Network Interface controls the wifi and also affects the bluetooth as well, the tech at the apple store had seen this proplem a few times before and replaced my phone with a new one.

I hope the details help you out a little, your best bet may be to have Apple look at it and determine through the diagnostics if the NIC is functioning.

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